Recently, in In re Moon Group Inc., a bankruptcy court said no, but the district court, which has agreed to review the decision on an interlocutory appeal, seems far less sure.
The bankruptcy court held that a lockbox...more
7/14/2023
/ Advances ,
Appeals ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 7 ,
Credit Agreements ,
Debtors ,
Interlocutory Appeals ,
Lenders ,
Line of Credit ,
Liquidity ,
Notice of Default
The process of identifying and implementing a new benchmark rate of interest to replace LIBOR for U.S. Dollar-denominated loans is underway. On account of the widely reported charges of manipulation in connection with the...more
The question of when parties to a potential transaction actually become bound to each other is obviously an important one, and sometimes the answer can be surprising, or less than entirely clear. A recent Texas Court of...more
4/5/2018
/ Acquisition Finance ,
Acquisitions ,
Appeals ,
Bids ,
Borrowers ,
Breach of Contract ,
Confidentiality Agreements ,
Contract Formation ,
Contract Negotiations ,
Contract Terms ,
Dismissals ,
Email ,
Ground Leases ,
Lenders ,
Meeting of the Minds ,
Oil & Gas ,
Reversal ,
Reversible Error ,
Sellers
A delicate balance has evolved over time in leveraged acquisitions with respect to the nature of the contractual relationship between a target and its owners, on the one hand, and the debt financing sources of the buyer, on...more
10/5/2017
/ Acquisition Finance ,
Appeals ,
Bonds ,
Breach of Contract ,
Buyers ,
Competitive Bidding ,
Contract Drafting ,
Contract Terms ,
Credit Agreements ,
Debt Financing ,
False Statements ,
Lenders ,
Leveraged Buyout ,
Negligent Misrepresentation ,
Private Equity ,
Refinancing ,
Reversal ,
Sellers ,
TX Supreme Court
When a portfolio company underperforms, an equity sponsor will want to assess the degree of negotiating leverage the company’s lenders have against the company under the circumstances, which can play a significant role in...more
4/12/2017
/ Acquisition Finance ,
Appeals ,
Bankruptcy Court ,
Bondholders ,
Breach of Contract ,
Chapter 11 ,
Commercial Bankruptcy ,
Consent ,
Debt Restructuring ,
Default ,
Forbearance Agreements ,
Lenders ,
Post-Bankruptcy Covenants ,
Remedies ,
Subsidiaries ,
Trust Indenture Act ,
Vessels
When a portfolio company underperforms, a sponsor may consider various options to address the perceived performance issues, including changes to a portfolio company’s management team, cost structure, capital structure or...more
10/16/2015
/ 363 Sales ,
Acquisition Finance ,
Bankruptcy Code ,
Bonds ,
Borrowers ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Lenders ,
Loan Agreements ,
Private Equity ,
Private Placements ,
RadioShack ,
Rule 144A ,
Trust Indenture Act
As we discussed in a prior newsletter, the evolving landscape for regulated financiers under the Leveraged Lending Guidance1 promulgated by the Federal Reserve Board, FDIC and OCC has increased uncertainty for regulated...more